Yangshan and Salalah top container port efficiency index. Malaysia’s Port of Tanjung Pelepas (PTP) is a new entrant in the top five of the latest Container Port Performance Index (CPPI) 2023, while Cartagena has moved up to number three. The CPPI report by the World Bank and S&P Global Market Intelligence ranks ports by efficiency, focusing on the duration of [...]
09/06/2024
Container spot rates expected to continue rising in June. Drewry’s World Container Index (WCI) was up 12% week-on-week on 6 June at $4,716 per feu. Meanwhile the Shanghai Containerized Freight Index (SCFI) on 7 June stood at 3184.87 points, a 4.6% increase, slowing from the previous week’s double-digit percentage jump that took it to levels not seen since August 2022. [...]
09/06/2024
South Korea to beef up supply chain resilience by tapping Malaysia and Asean. KUALA LUMPUR (June 9): South Korea is enhancing its supply chain resilience by intensifying collaborations with Asean countries, particularly Malaysia, in response to the escalating United States-China economic rivalry. South Korea’s special envoy for Indo-Pacific affairs, Chung Kee Yong, told Bernama that his country is currently prioritising [...]
09/06/2024
Why Rail and Intermodal Remain Integral to Supply Chains. Supply chains might be modernising at pace, but rail and intermodal transportation are still giving companies the edge amid ongoing volatility Supply chains continue to evolve in a variety of ways to meet the demands of a rapidly changing global business environment. And yet, despite the prevalence of substantial digitisation [...]
03/06/2024
Red Sea diversions, tariff risks send ocean shipping soaring LOS ANGELES (May 31): Spiking ocean shipping rates, vessel backups at seaports and empty container shortages — issues that wreaked havoc on global trade during the Covid pandemic supply-chain crisis — are back as the industry enters its busy season. "There is a cocktail of uncertainty and disruption across global ocean [...]
03/06/2024
Are geopolitics and tariffs distorting supply chains? Questions over where the glut of container ship capacity that has been delivered, and is expected this year, are being asked by both shippers and consultants as the biggest orderbook in history coincides with the steepest rises in rates. Global Shippers’ Forum (GSF) director James Hookham has enlisted the help of consultants [...]
03/06/2024
Shipping losses hit all-time low despite increasing risks for the whole sector [Part I]. Given as much as 90% of international trade is transported across oceans, maritime safety is critical. Thirty years ago, the global shipping fleet lost around 200 large vessels a year. This total fell to a record low of 26 in 2023, a decline of more than [...]
31/05/2024
Shipping losses hit all-time low despite increasing risks for the whole sector [Part II]. Rerouting brings risks and environmental challenges Attacks against shipping in Middle East waters have also severely impacted Suez Canal transits – down by more than 40% at the beginning of 2024 – and trade. Coming so soon after the ongoing disruption caused by drought in the [...]
31/05/2024
Customs Department to launch Compliance Verification Audit in July. KUALA LUMPUR (May 23): The Royal Malaysian Customs Department is set to launch a new approach known as Compliance Verification Audit (AViP) in July this year to promote self-compliance and encourage voluntary disclosure. To reduce the risk of revenue leakages, the Customs Department changed its strategy from detecting leakages to preventing [...]
26/05/2024
Singapore Businesses Lag in Supply Chain Emissions Measurement, Schneider Electric Study Finds. A recent study by Schneider Electric, the global leader in energy management and automation, reveals that a majority of Singaporean businesses are falling short in engaging their supply chain partners to calculate total greenhouse gas emissions (GHG). Nearly two-thirds (63%) of business leaders indicate they have not fully [...]
26/05/2024
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